HSBC Personal Instalment Loan Balance Consolidation Program

Annual fee

Not applicable

Handling charge

Subject to promotional offer

Early redemption penalty

2% of outstanding principal amount plus repayment of any applicable promotional offers

Deferred payment

For 1st repayment: 2.25% per month on approved loan amount, calculated on daily basis

Late charge

2.25% per month calculated on daily basis for amounts in arrears, plus HKD400 on each instalment due to insufficient funds

Unauthorised overdraft handling charge

Not applicable

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If you're having difficulty keeping up with your loan repayments—for example, because you lost your job or you have unexpected new financial commitments—please talk to us. We may be able to help make your monthly repayments more manageable, such as by extending your loan term.

We use a monthly flat rate to calculate the monthly repayment amount for your loan. Most banks and financial institutions adopt this method to calculate fixed monthly repayments.

An annualised percentage rate (APR) is an index of borrowing cost, It's calculated based on a 365-day or 366-day calendar year, and includes interest and all related fees or charges, in accordance with the relevant guidelines under the Code of Banking Practice. You can use APR as a way to compare interest rates.

The main reason is that different loans carry different levels of risk for the lender. For example, a loan granted without any security carries a higher risk of the lender losing their money if you can't repay it. And so, it will usually carry a higher interest rate than a secured loan.

Another factor is the amount you borrow. A lender's administrative costs are lower for a single large loan, as compared to several small loans to different borrowers. That's why a large loan may have a lower interest rate than a small loan.

We advise all customers to check the amount that you'll pay over the course of the whole loan.